World · Middle East · 12 hrs ago
Iran war disrupts energy shipments through key Middle East routes
The US-Israel war on Iran has disrupted energy flows and led governments to reassess their energy security.
The disruption matters because fossil fuels still provide nearly 81 percent of the world’s energy, and production is concentrated in a handful of regions.
The Middle East is the largest oil-producing region, while North America is the largest natural gas producer.
Before the war, about 27 percent of global seaborne oil trade and almost 20 percent of liquefied natural gas trade passed through the Strait of Hormuz.
Traffic through the Bab al-Mandeb strait and the Suez Canal has also fallen, sending some shipments on longer routes around Africa.
Countries that rely on Gulf oil, gas and fertiliser face higher prices, longer waits and the need to find other suppliers.
A major energy conference has begun in Riyadh and is scheduled to run until Thursday, with an international energy ministers’ meeting held alongside it.
The US-Israel war on Iran has disrupted energy flows and led governments to reassess energy security.
Traffic through the Strait of Hormuz, the Bab al-Mandeb strait and the Suez Canal has been affected, with some shipments rerouted around Africa.
Before the war, about 27 percent of global seaborne oil trade and almost 20 percent of liquefied natural gas trade passed through the Strait of Hormuz.
The Middle East is the world’s largest oil-producing region, while North America is the largest natural gas producer.
Riyadh Energy Week has begun as countries meet to discuss energy amid the disruption.
- Who
- Energy producers, shippers and countries that rely on Gulf oil, gas and fertiliser are affected.
- What
- The Iran war has disrupted energy flows and reduced traffic through key Middle East routes.
- When
- The disruption is occurring amid the US-Israel war on Iran. The conference began on Sunday and is due to run until Thursday.
- Where
- The Strait of Hormuz, Bab al-Mandeb strait and Suez Canal are among the affected routes.
- Why
- The war has disrupted energy flows and spilled over into other areas of the Middle East; Yemen’s civil war has also ramped up.
This story does not have two clearly opposing sides.
That’s probably the first time we’ve really seen a major constriction of a chokepoint
there is no alternative maritime route. There are some pipelines, but there’s no alternative, which is why it’s been so significant in terms of cargo volume.
About 27 percent of global seaborne oil trade and almost 20 percent of liquefied natural gas trade passed through the Strait of Hormuz.
Traffic through the Bab al-Mandeb strait and Suez Canal has been reduced, forcing some energy shipments to take longer routes around Africa.
The 25th World Petroleum Council Energy Congress began in Riyadh.
Riyadh Energy Week is due to end.
- Strait of Hormuz
- About 27 percent of global seaborne oil trade and almost 20 percent of liquefied natural gas trade passed through it before the war.
- Energy sources
- Fossil fuels account for nearly 81 percent of global energy consumption.
- Oil
- 31.4 percent of global energy consumption.
- Coal
- 25.9 percent of global energy consumption.
- Natural gas
- 23.5 percent of global energy consumption.
- IEF
- Brings together 68 countries that account for more than 90 percent of global oil and gas supplies and demand.
Sources
Related news
Riyadh airport hit again after deadly Houthi attack
11 killed and 27 injured in tour bus crash in western Türkiye
Iran says US response to Hormuz reopening conditions is insufficient
Missile attack on Riyadh airport kills 12 and injures more than 300
Projectile hits Riyadh airport terminal in second attack in two days
Attack injures several people and halts operations at Riyadh airport
Indian man dies after Riyadh airport attack, embassy says
Netanyahu seeks investigation into anonymous participants in Gaza documentary
Iran says Oman agreement will not immediately reopen Strait of Hormuz
US forces disable cargo ship accused of trying to breach Iran blockade
Russia condemns deadly attack on Riyadh airport and urges protection of civilians
